Jury finds former Aveo CFO misled investors about kidney cancer drug

A federal jury in Boston found the former chief financial officer of Aveo Pharmaceuticals liable for civil securities fraud Tuesday for misleading investors about the Cambridge, Mass., biotech company’s prospects to win approval of a kidney cancer drug candidate.

The U.S. District Court jury concluded that David Johnston concealed from investors that the Food and Drug Administration had expressed concerns about the drug candidate, known as tivozanib.

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